REG - Firering Strategic - 64m Intercept @ 1.24% Li2O in First Lithium Assays
15/11/2022 07:00
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RNS Number : 3766G Firering Strategic Minerals PLC 15 November 2022
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
15 November 2022
Firering Strategic Minerals plc
("Firering" or "the Company")
First Lithium Assay Results Show Significant Intercept of 64m @ 1.24% Li(2)O
Firering Strategic Minerals plc ("FSM"), an exploration company focusing on
critical minerals, is pleased to announce its first set of assay results from
its maiden scout diamond drill programme at its flagship Atex Lithium-Tantalum
Project ("Atex"), in Côte d'Ivoire.
Highlights:
· Positive results received from first assays from scout drilling
including:
o 64m at 1.24% Li(2)O from 76m in hole TVDD0004, including:
§ 27m at 2.13% Li(2)O from 76m
§ 4.06% Li(2)O, the highest individual sample assay grade.
o 15m at 0.59% Li(2)O from 37m in hole TVDD0003, including:
§ 4m at 1.95% Li(2)O from 45m.
· Confirms Atex's standing as the first potentially significant lithium
exploration project in Côte d'Ivoire.
· Two out of the four scout drill holes showing grades of lithium above
0.5% Li(2)O.
· Additional assays expected during Q4 2022, including holes 18 and 19
that demonstrated significant pegmatite intercepts with visible spodumene.
· Second phase of exploration being prepared with Ricca Resources Ltd
("Ricca") following recent US$18.6 million investment agreement.
Yuval Cohen, Chief Executive of Firering, said:
"These first assay results from our scout drilling at Atex show the first
significant intercepts, including 64m, grading 1.24% Li(2)O. This is
exceptional and amongst the best intercepts recently reported by our global
peers and confirm the presence of lithium in our pegmatite system. We look
forward to announcing the remaining assay results in the coming weeks, in
particular the results for holes 18 and 19 for which we previously announced
significant pegmatite intercepts with visible spodumene.
"Following the recently announced US$18.6m investment agreement with Ricca,
the next phase of our fully funded exploration programme will be defined and
carried out jointly. Both the Firering and Ricca senior technical teams are
currently at the Atex site and the next phase of exploration will be finalised
over the coming weeks. We look forward to updating the market on our
combined efforts."
Assay Results
Assay results were received for holes TVDD0003, TVDD0004, TVDD0005 and
TVDD0006 (see map below).
Map showing the four diamond drill holes for which assay results are reported.
Significant intercepts are reported for holes TVDD0003 and TVDD0004. No
significant mineralisation is reported for holes TVDD0005 and TVDD0006 (see
table below).
Hole ID Dip Angle Azimuth Drill type Pegmatite Intersection, Including Waste, From/To (m) Pegmatite Intersection, Excluding Waste, From/To (m) Intersection Length (m) Grade
(Degrees) (degrees)
Li2O (%) Ta (ppm) Nb (ppm)
TVDD0004 -52 113 DD 67.7-139.95 67.7-69.05 1.35 No significant mineralisation
69.53-71.47 1.94
71.64-75.37 3.73 1.13 37.76 61.90
including 72.9-73.78 0.88 3.89 18.90
75.94-139.95 64.01 1.24 50.08 74.83
including 75.94-102.89 26.95 2.13 68.39 66.60
including 116.19-126.81 10.62 1.36 41.60 96.06
TVDD0003 -50 302 DD 37.25-52.6 15.35 0.59 22.32 32.02
including 44.68-48.65 3.97 1.95 17.85 26.58
60.7-89.6 28.90 0.13 23.47 74.92
including 62.38-63.55 1.17 0.70 29.53 72.08
111.1-112.65 1.55 No significant mineralisation
TVDD0005 -50 298 DD 38.85-44.42 5.57 No significant mineralisation
60.9-81.93 21.03
TVDD0006 -52 299 DD 16.05-89.9 73.85 No significant mineralisation
includes 66.25-67.1 0.85
Note: Significant intercepts are reported for pegmatites >1m and with at
least one sample interval of >0.5%Li(2)O. Intercepts represent apparent
widths and not true width. Apparent width will be greater than true width
and the relationship between apparent and true width has not yet been
established.
Assay results for TVDD0004 included the highest grading spodumene bearing
sample of 0.31m from 118.5m at 4.06% Li(2)O as well as a large intercept of
64.01m @ 1.24% Li(2)O. Assay results support geological logging undertaken
on the drill holes.
Sections showing significant intercepts in holes TVDD0003 and TVDD0004 are
shown below.
Note: Section A - A' shows significant intercepts in hole TVDD0004 in relation
to the current geological interpretation Intercepts show apparent thickness,
not true thickness; results for holes TVDD0010 and TVDD0018 currently
outstanding.
Note: Section B - B' shows significant intercepts in hole TVDD0003 in relation
to the current geological interpretation. Intercepts show apparent
thickness, not true thickness; results for hole TVDD0011 currently
outstanding.
Drilling, Logging and Sampling
The drill holes are initially sited using a hand-held GPS (Global Positioning
System device) within the tenement areas. Accurate coordinates and
elevations of drill holes collars are subsequently derived from a DGPS
(Differential Global Position devices) survey.
Diamond drilling, producing drill core has been utilised to sample the
pegmatite below ground surface. Drilling was done using diamond core rigs
with PQ sized drill rods used from surface to sample through to fresh rock.
HQ sized drill rods were used after the top-of-fresh-rock had been
intersected.
Drill cores are geologically logged and all pegmatite intersections are
selected and marked-up with a unique sample ID assigned before splitting and
sampling. Cores are cut in half using a core cutter, and individual samples
bagged and sent for analysis.
Currently, drill core samples are crushed to -2mm and pulverised at the
Intertek Preparation Laboratory, Cote d'Ivoire to 85% passing -75 microns.
Sample pulps are exported to Perth, via Ghana, where pulps are fused with
sodium peroxide and analysed by ICP-OES and ICP-MS to report 21-elements.
(Intertek code FP6/MS and FP6/OES).
QA/QC
Alternating Certified Refence Materials (CRM) and blanks are inserted every
7(th) sample in to the samples stream and pulp duplicates are inserted every
16(th) sample into the sample stream sent to the laboratory to ensure QA/QC
compliance. These QA/QC results are assessed upon receipt of analyses,
checked and, if acceptable, accepted into the analytical database. Follow-up
with the laboratory is instigated in cases were any QA/QC sample fails the
QA/QC parameters.
Geology
The area is located in the western limit of the Bagoé Basin within a
southwest to north-south orientated arcuate belt of metavolcanic and
metasedimentary rocks of the Birimian Supergroup that are surrounded by
Eburnean-aged granitoids, including undeformed K-feldspar porphyritic
monzogranites, which are temporally associated with the pegmatites in the
region. The pegmatites within the Atex Project are hosted in mafic schists,
although some minor mica schist is also present, and comprise a series of
steeply dipping north-northeast striking bodies. Less common are smaller
east-west orientated pegmatites.
Work to date by Firering has identified a number of pegmatite bodies around
Spodumene Hill that have been the focus of the current drilling campaign.
Several of these pegmatites have been identified to be potentially lithium
bearing, with the lithium hosted in spodumene and lepidolite.
Competent Person
In accordance with the AIM Note for Mining and Oil and Gas Companies, Firering
discloses that Michael Cronwright of CSA Global is the Competent Person that
has reviewed the technical information contained in this document. Michael
Cronwright has a Pr.Sci.Nat with the South African Council for Natural
Scientific Professions ("SACNASP") and is a member in good standing with
SACNASP. Mr Cronwright has the appropriate relevant qualifications,
experience, competence and independence to act as a Competent Person as
defined in the 2012 Edition of the "Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Michael Cronwright
consents to the inclusion of the information in this announcement in the form
and context in which it appears.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
*** ENDS ***
For further information and updates on Firering's exploration programme, visit
www.fireringplc.com or contact the following:
Firering Strategic Minerals Tel: +44 20 7236 1177
Yuval Cohen
Neil Herbert
SPARK Advisory Partners Limited Tel: +44 20 3368 3550
Nominated Adviser
Neil Baldwin / James Keeshan / Adam Dawes
Optiva Securities Limited Tel: +44 20 3137 1903
Broker
Christian Dennis / Daniel Ingram
St Brides Partners Limited T: +44 20 7236 1177
Financial PR E: firering (mailto:firering) @stbridespartners.co.uk
(mailto:firering@stbridespartners.co.uk)
Ana Ribeiro / Susie Geliher / Isabelle Morris
Notes to Editors:
Firering Strategic Minerals
Firering Strategic Minerals plc is an AIM-quoted mining company focused on
exploring and developing a portfolio of mines producing critical minerals in
the Côte d'Ivoire focused on Lithium and Tantalum to support the global
transition to net zero emissions. It operates the Atex Lithium-Tantalum
Project in northern Côte d'Ivoire, which is prospective for both lithium and
tantalum. Firering's main focus is working together with Australian
diversified minerals company Ricca Resources following the signing of an
US$18.6m investment agreement to advance development at Atex with a view to
establishing a maiden lithium resource and then progressing a lithium project
through to DFS. Firering is also assessing pilot scale production of
ethically sourced tantalum and niobium to generate early revenues and support
further exploration work. Should pilot production be successful, a
large-scale tantalum production facility may be developed, which will be
supported by a debt facility of FCFA 5,057,000,000 (approximately
€7,500,000) currently under negotiation to fund the entire scale-up plan to
develop a portfolio of ethically sourced mineral projects in the Côte
d'Ivoire, supplying EV batteries, high tech electronics and other fast-growing
end markets.
Glossary of Technical Terms
Lepidolite Lepidolite is a purple to lilac-grey or rose-coloured member of the mica group
of minerals. It has chemical formula K(Li,Al)3(Al, Si)4O10(F,OH)2. It is part
of the polylithionite, lepidolite, and trilithionite group of minerals, which
share similar properties but have varying ratios of lithium and aluminium in
their chemical formulas and a potential secondary source of lithium.
ICP-OES Inductively coupled plasma-optical emission spectroscopy.
ICP-MS Inductively coupled plasma mass spectrometry.
Li Lithium.
Li2O Lithium Oxide (Lithia) - an inorganic lithium compound used to assess lithium
minerals. Relationship between Li and Li2O: Li2O = Li x 2.153
Metasediments Sedimentary rocks that have been metamorphosed.
Metavolcanics Volcanic rocks that have been metamorphosed.
Pegmatite An igneous rock typically of granitic composition, which is distinguished from
other igneous rocks by the extremely coarse size of its crystals, or by an
abundance of crystals with skeletal, graphic, or other strongly directional
growth habits, or by a prominent spatial zonation of mineral assemblages.
pXRF Portable X-ray Fluorescence handheld device that uses X-rays to excite matter
at the atomic level for determining approximate chemical compositions. A built
in CPU and display on the back of the unit provide live geochemical results
within seconds.
QA/QC Quality assurance and quality control. Use to assess the accuracy and
reliability of assay results.
Spodumene Spodumene is a pyroxene group mineral with a chemical formula of LiAlSi2O6.
Spodumene is mined from pegmatites and concentrates produced which are the one
of the primary sources of lithium.
Ta Tantalum.
XRD x-Ray diffraction (XRD), or x-ray powder diffraction, utilizes x-ray radiation
on crystalline organic and inorganic samples. The rays are diffracted in a
pattern determined by the position, arrangement, and size of the constituents
of the crystal.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (e.g. cut channels, random chips, or · Diamond drilling, producing drill core has been utilised to sample
specific specialised industry standard measurement tools appropriate to the the pegmatite below ground surface. This method is recognised as providing the
minerals under investigation, such as down hole gamma sondes, or handheld XRF highest quality information and samples of the unexposed geology.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · Based on available data, there is nothing to indicate that drilling
and sampling practices were not to normal industry standards.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · All pegmatites were sampled from the hanging wall contact
continuously through to the footwall contact. The sampling did not include the
· Aspects of the determination of mineralisation that are Material to host rocks and stopped at the pegmatite contacts.
the Public Report.
· Diamond drilling has been used to obtain core samples, which have
· In cases where 'industry standard' work has been done this would be then been cut longitudinally. Intervals submitted for assay have been
relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m determined according to geological boundaries. Samples were nominally taken at
samples from which 3 kg was pulverised to produce a 30 g charge for fire 1m intervals but ranged from 0.2-1.28 m.
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or · The submitted half-core samples typically had a mass of 2-4 kg but
mineralisation types (e.g. submarine nodules) may warrant disclosure of ranged from 0.8-7.7 kg
detailed information.
· The primary focus of this sampling was to determine the nature and
distribution of the lithium (and any other potential mineralisation) between
different pegmatites intersected in each hole and also variations within
individual pegmatites.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary · The drilling was completed using diamond core rigs with PQ sized
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple drill rods from surface to sample through to fresh rock. HQ sized drill rods
or standard tube, depth of diamond tails, face-sampling bit or other type, were used after the top-of-fresh-rock had been intersected. Holes are angled
whether core is oriented and if so, by what method, etc). at 50° either to the northwest or southeast and collared from surface into
weathered bedrock. All holes were downhole surveyed using a digital multi-shot
camera at about 30 m intervals.
· All core was orientated.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Drill core recovery averaged >95%. Weathered zone recoveries
results assessed. averaged between 90-95% and recoveries through the fresh rock averaged
>99%.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Based on the high recoveries, FSM did not implement additional
measures to improve sample recovery and the drill core is considered
· Whether a relationship exists between sample recovery and grade and representative and fit for sampling.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · Most pegmatites were intersected in fresh rock and the core recovery
was near 100% and there is no sample bias due to preferential loss or gain of
fine or coarse material. Some bias may occur in the weathered portion of
pegmatites where recoveries were slightly lower but is not considered material
to the results as very few pegmatites were intersected in this zone.
Logging · Whether core and chip samples have been geologically and · Drill core was logged by qualified geologists and the logs were then
geotechnically logged to a level of detail to support appropriate Mineral captured into the database.
Resource estimation, mining studies and metallurgical studies.
· All drill core was logged for qualitatively for geology (capturing
· Whether logging is qualitative or quantitative in nature. Core (or geological, weathering and mineralogical properties) and quantitatively
costean, channel, etc) photography. geotechnical properties (RQD and structures) and recovery.
· The total length and percentage of the relevant intersections logged. · A complete copy of the data is held by CSA Global in a SQL database.
· All drill core was photographed both in dry and wet states, pre and
post sampling, with the photographs stored in the database.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · Core is cut longitudinally, and half-core samples of a nominal 1m
taken. length are submitted for assay.
· If non-core, whether riffled, tube sampled, rotary split, etc and · The sample preparation for drill core samples incorporates standard
whether sampled wet or dry. industry practice.
· For all sample types, the nature, quality and appropriateness of the · The half core samples are then packaged and the certified reference
sample preparation technique. material, blanks and duplicates are inserted at appropriate intervals and
submitted for crushing and pulverizing at the Intertek sample preparation lab
· Quality control procedures adopted for all sub-sampling stages to in Yamoussoukro.
maximise representivity of samples.
· The half-core samples of approximately 2-4 kg are oven dried, crushed
· Measures taken to ensure that the sampling is representative of the to a nominal -2 mm with a sub-ample of approximately 100g being split out.
in situ material collected, including for instance results for field This sub-sample is then pulverised to produce a pulp with 85% passing -75um
duplicate/second-half sampling. size fraction. A subsample is then split from this and then the complete
sample batch is couriered to Australia for assay analysis.
· Whether sample sizes are appropriate to the grain size of the
material being sampled. · Standard sub-sampling procedures are used by Intertek during all
stages of sample preparation such that each sub-sample split is representative
of the sample it was derived from.
· Duplicate sampling comprising coarse and pulp duplicates were
undertaken for the drilling programme. These were prepared by the lab during
the sample preparation process and the samples inserted into empty
pre-numbered bags that were placed into the sample sequence by SEMS
geologists. These were then processed further, along with all the other
samples.
· The drilling produced PQ and HQ drill core, providing a
representative sample of the pegmatites which is coarse-grained. Sampling was
mostly at nominal 1m intervals, and the submitted half-core samples typically
had a mass of 2-4 kg.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · The sample pulps were couriered to Intertek in Perth for assay using
laboratory procedures used and whether the technique is considered partial or a sodium peroxide fusion followed by an ICP-MS and ICP-OE assay. Method code
total. FP6/MS and FP6/OES. The samples were assayed for 21 elements including Li, Ta,
Nb and Sn.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Peroxide fusion results in complete digestion of the sample and is
model, reading times, calibrations factors applied and their derivation, etc. suitable for many refractory, difficult-to-dissolve minerals. Peroxide fusion
also provides for a more complete digestion of some silicate mineral species
· Nature of quality control procedures adopted (e.g. standards, blanks, and is considered to provide the most reliable determination of elements
duplicates, external laboratory checks) and whether acceptable levels of associated with LCT pegmatites and associated mineralisation.
accuracy (i.e. lack of bias) and precision have been established.
· QAQC samples comprising blanks (pulp and coarse crush chips) and
certified reference materials sourced from AMIS in South Africa were inserted
into the sample batches. In addition, the laboratory (Intertek) incorporated
its own internal QAQC procedures to monitor its assay results prior to release
of results to FSM.
· The Competent Person is satisfied that the results of the QAQC are
acceptable and that the assay data from Intertek is suitable for the reporting
of exploration results.
· Geophysical instruments were not used in assessing the
mineralisation.
Verification of sampling and assaying · The verification of significant intersections by either independent · CSA Global (CSA) observed the mineralisation in the majority of drill
or alternative company personnel. core, but no check assaying was completed by them at this stage of the
exploration programme.
· The use of twinned holes.
· The logging and sampling data were captured onto paper logs and
· Documentation of primary data, data entry procedures, data transferred into Excel spreadsheets that were imported into a SQL database
verification, data storage (physical and electronic) protocols. managed by CSA Global.
· Discuss any adjustment to assay data. · The field programme was managed by SEMS-Exploration (Cote d'Ivoire).
· All hole locations were sited using a handheld GPS and surveyed with
a differential GPS (DGPS) once all drilling was completed. The information was
then transferred to the logging Excel spreadsheets.
· All data is stored locally on a laptop computer and also backed-up
onto the cloud.
· The assay data has not been adjusted.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · The drill hole locations were recorded using a DGPS device.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. · Coordinates are relative to WGS84 UTM zone 29P.
· Specification of the grid system used. · For the purposes of early-stage geological modelling, the drillhole
collars were projected onto a topographic surface.
· Quality and adequacy of topographic control.
· The locations are considered suitably accurate for the purpose of
reporting exploration results.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drill holes were laid out along a northeast-southwest pattern spaced
between 70 and 300m apart. Holes were not drilled on a regular grid as this
· Whether the data spacing and distribution is sufficient to establish early-stage phase of scout drilling was designed to test the mapped pegmatites
the degree of geological and grade continuity appropriate for the Mineral for mineralisation, determine orientation at depth and geological continuity
Resource and Ore Reserve estimation procedure(s) and classifications applied. for certain pegmatites.
· Whether sample compositing has been applied. · The spacing is considered suitable to determine targets for follow-up
work. Areas for follow-up exploration have also been identified based on gaps
identified in the data generated to date.
· No sample compositing was done.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The drillhole orientation is designed to intersect the pegmatites at,
possible structures and the extent to which this is known, considering the or nearly at, 90° to the plane of the pegmatite. However, due to the poor
deposit type. control on the pegmatite orientations and limitations of the drill rig (could
not drill holes <50°), many of the pegmatite intercepts were drilled
· If the relationship between the drilling orientation and the obliquely to the pegmatite.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · The pegmatite intercepts in the drill holes thus represent widths
which are greater than the true pegmatite widths. This is illustrated in the
attached sections.
· The relationship between the apparent widths and true width has not
yet been established.
Sample security · The measures taken to ensure sample security. · All samples were collected, labelled and bagged on site by the
SEMS-Exploration team.
· Samples were secured and stored in FSM's core yard facility in
Tounvré.
· The sample batches were then collected from Tounvré by Intertek
Yamoussoukro.
· The sample lists were submitted to Intertek electronically and
checked by Intertek against what was received.
· Once the samples had been prepared, Intertek Yamoussoukro couriered
the sample pulps to Intertek Perth, via Intertek Ghana, for assay.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · The drilling and sampling techniques were reviewed by Mr Michael
Cronwright of CSA Global, the Competent Person, during the site visit in
August 2022.
· Discussions were held with key technical staff from SEMS-Exploration
regarding the geology, sampling and data capturing they conducted.
· The Competent Person considers that the exploration work conducted to
date has been using appropriate techniques for the style of mineralisation and
is suitable for the reporting of the exploration results.
Section 2 Reporting of Exploration Results
(Criteria listed in the previous section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The Atex exploration permit was issued as PR-777 on 6 December 2017
agreements or material issues with third parties such as joint ventures, to Atex Mining Resources and was valid for four years and expired in December
partnerships, overriding royalties, native title interests, historical sites, 2021. In March 2021, Firering Holdings acquired 51% of Atex Mining and has
wilderness or national park and environmental settings. an option to acquire an additional 39%.
· The security of the tenure held at the time of reporting along with · PR-777 has been renewed for an additional three years for Li,
any known impediments to obtaining a licence to operate in the area. expiring on 5 December 2024. The Mining Code of Ivory Coast allows for the
adding of other commodities, e.g. Ta and Au when found during exploration
activities.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Within PR-777, limited exploration work comprising geological mapping
and prospecting, focussed on the eluvial, alluvial and pegmatite hosted
columbo-tantalite mineralisation and was done between 1953 and 1963. This work
identified the area to have "good" potential for columbo-tantalite
mineralisation as well some evidence of placer gold mineralisation around
Tounvré.
· Adam (1966) conducted the systematic exploration in the area on
behalf of SODEMI from 1965-1966. His work comprised non-systematic and
systematic pitting, mapping, rock chip and mineral concentrate sampling, and
identified a number of areas with potentially economic columbo-tantalite
mineralisation as well as spodumene-lepidolite bearing pegmatite(s) around
Spodumene Hill. His mapping also recognised five types of pegmatites in the
area, namely:
· lepidolite, muscovite, spodumene, columbo-tantalite type;
· green muscovite, columbo-tantalite type;
· green muscovite and beryl type;
· muscovite, beryl type; and
· biotite, magnetite type.
· More recently, the permit was covered by a larger licence held by
Perseus Mining Limited who were exploring for gold within the region. The
results of this exploration are unknown.
· It is understood that they conducted airborne geophysical (magnetic
and radiometric) surveys over the area.
· Atex Mining Resources conducted the most recent exploration
comprising limited mapping and rock chip sampling focussed on the lithium
potential of the licence and confirmed the presence of spodumene and
lepidolite mineralisation on and in the area around Spodumene Hill.
Geology · Deposit type, geological setting and style of mineralisation. · The Atex Project occurs in the western limit of the Bagoé Basin
within Baoulé-Mossi domain of the West African Craton (WAC). The WAC
comprises Archaean basement material and the surrounding Proterozoic
granite-greenstone terranes (termed the Birimian or Birimian Supergroup). The
Birimian rocks are synchronous with the Eburnean orogeny. The Baoulé-Mossi
domain comprises a number of north-northeast to south-southwest to north-south
arcuate belts that stretch hundreds of kilometres and are host to multiple
gold, base metal, and pegmatite-hosted columbo-tantalite and lithium deposits
that are spatially and temporally related to the Eburnean orogeny that took
place between 2,250 and 1,980 Ma.
· The geology of the Project area is underlain by Birimian
metavolcanics and Eburnian-aged granitoid intrusions, including undeformed,
late stage potassic granites considered to be genetically related to the
pegmatites.
· Historical work within the permit area has identified a number of
pegmatite types within the licence area, including pegmatites that are
prospective for lithium and columbo-tantalite mineralisation. The exploration
work by Adam (1966) also identified surficial columbo-tantalite mineralisation
associated with the pegmatites and weathering thereof.
· Recently, several companies have demonstrated the potential for
pegmatite-hosted lithium mineralisation in the region. These include Atlantic
Lithium (previously IronRidge Resources) who have developed the Ewoyaa Lithium
Project in Ghana, Firefinch (previously Mali Lithium) and their Goulamina
project and Kodal Minerals with their Bougouni project both in southern Mali.
· The pegmatites within the Atex permit belong to the LCT-Rare Element
group of pegmatites and includes the LCT spodumene-lepidolite bearing
pegmatite at Spodumene Hill and muscovite-columbo-tantalite type pegmatites.
· The pegmatites within the Atex Proiect are hosted in mafic schists,
although some minor mica schist is also present, and comprise a series of
steeply dipping north-northeast striking bodies. Less common are smaller
east-west orientated pegmatites.
· Current work by Firering Strategic Minerals has identified a number
of pegmatite bodies around Spodumene Hill, which have been the focus of the
current drilling campaign.
· Several of these pegmatites have been identified to be potentially
lithium bearing, with the lithium hosted in spodumene and lepidolite.
· The area is also considered moderately prospective for orogenic
Birimian gold mineralisation based on the local geology and proximity to a
number of gold deposits in the broader region. Historical exploration in the
1960s also noted a small "placer" gold deposit close to Tounvré.
Drill hole Information · A summary of all information material to the understanding of the · All drill hole location data is provided in the accompanying
exploration results including a tabulation of the following information for documentation
all Material drill holes:
· Only significant intercepts have been reported comprising pegmatites
o easting and northing of the drill hole collar meeting the following criteria: pegmatites intercepts >1m and containing at
least one sample interval with >0.5% Li2O.
o elevation or RL (Reduced Level - elevation above sea level in metres) of
the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Significant Intercepts are reported as length-weighted grades within
maximum and/or minimum grade truncations (e.g. cutting of high grades) and the logged pegmatite.
cut-off grades are usually Material and should be stated.
· The significant intercepts have been reported as per the accompanying
· Where aggregate intercepts incorporate short lengths of high grade documentation
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations · The majority of samples were taken at 1m lengths.
should be shown in detail.
· No equivalent values are used or reported.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated. · No other data aggregation or metal equivalents have been reported.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · The pegmatite intercepts (downhole lengths) in the drill holes
Exploration Results. represent apparent widths, which are greater than the true pegmatite widths.
This is illustrated in the attached sections.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · The relationship between the apparent widths and true width has not yet
been established.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (e.g. 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Relevant maps are presented in the accompanying documentation.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · The reported exploration results from the Atex project are related to
practicable, representative reporting of both low and high grades and/or the diamond core drilling sample assays reported to date.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Not applicable.
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (e.g. tests for lateral · Additional exploration is planned and summarised in the accompanying
extensions or depth extensions or large-scale step-out drilling). documentation.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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